GBPJPY
The weekly TF there is a new pattern of HHs & HLs. The price action would conclude if we can go up to Monthly res of about 193.5.
On Daily there tends to be a monthly res/sup at 186 therefore trying to find equilibrium with confluence with fibs at 0.5 for the C leg with a rejection candle & bearish engulfing to follow,which for me is a more convincing sign that over all Target is a short.
The weekly TF there is a new pattern of HHs & HLs. The price action would conclude if we can go up to Monthly res of about 193.5.
On Daily there tends to be a monthly res/sup at 186 therefore trying to find equilibrium with confluence with fibs at 0.5 for the C leg with a rejection candle & bearish engulfing to follow,which for me is a more convincing sign that over all Target is a short.